The present disclosure relates generally to electronic devices, and, more particularly, to various techniques for conducting payment transactions with electronic devices.
This section is intended to introduce the reader to various aspects of art that may be related to various aspects of the present disclosure, which are described and/or claimed below. This discussion is believed to be helpful in providing the reader with background information to facilitate a better understanding of the various aspects of the present disclosure. Accordingly, it should be understood that these statements are to be read in this light, and not as admissions of prior art.
Handheld electronic devices, such as mobile phones and personal data assistants, are becoming increasingly prevalent in today's society. The electronic devices may be used to perform many functions, such as storing contact information, accessing email, accessing the Internet, and placing phone calls. Further, certain devices may store financial information, such as credit card accounts, in an electronic wallet. As we move to a more mobile and fast-paced society, the use of cash or currency is being increasingly replaced by electronic transactions using credit cards, debit cards, etc. Individuals may carry only small amounts of cash, relying instead on electronic transactions for the majority of their purchases. While merchants may readily accept payments through electronic transactions, it may be cumbersome for individuals to accept electronic payments. However, individuals may need to frequently exchange money with other individuals or peers, but may be limited by the small amounts of cash that individuals typically carry.